The Bank of New York Mellon Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component The Bank of New York Mellon Corp (NYSE:BK) will unveil its latest earnings on Wednesday, October 19, 2011. The Bank of New York Mellon is a global financial services company offering various products and services for individuals and institutions. The main activities of the company and its subsidiaries include asset management, wealth management, and broker-dealer and advisory services.

The Bank of New York Mellon Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 53 cents per share, a decline of 5.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 57 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 54 cents during the last month. Analysts are projecting profit to rise by 7.2% versus last year to $2.20.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the second quarter, it reported profit of 59 cents per share against a mean estimate of net income of 56 cents per share. In the first quarter, it missed forecasts by 7 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 7.9% in revenue from the year-earlier quarter to $3.7 billion.

Analyst Ratings: Analysts are bullish on this stock with 12 analysts rating it as a buy, one rating it as a sell and five rating it as a hold.

A Look Back: In the second quarter, profit rose 11.7% to $735 million (59 cents a share) from $658 million (54 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 12.8% to $3.95 billion from $3.5 billion.

Key Stats:

Revenue has gone up for three straight quarters. It rose 2% in the first quarter from the year earlier and 14.4% in the fourth quarter of the last fiscal year.

Competitors to Watch: State Street Corporation (NYSE:STT), Northern Trust Corporation (NASDAQ:NTRS), SEI Investments Company (NASDAQ:SEIC), Morgan Stanley (NYSE:MS), Goldman Sachs Group, Inc. (NYSE:GS), Bank of America Corp. (NYSE:BAC), Wells Fargo & Company (NYSE:WFC), Citigroup Inc. (NYSE:C), United Western Bancorp, Inc. (NASDAQ:UWBK), and JPMorgan Chase & Co. (NYSE:JPM).

Stock Price Performance: During July 20, 2011 to October 13, 2011, the stock price had fallen $5.97 (-24.1%) from $24.81 to $18.84. The stock price saw one of its best stretches over the last year between March 28, 2011 and April 4, 2011 when shares rose for six-straight days, rising 3.8% (+$1.10) over that span. It saw one of its worst periods between September 15, 2011 and September 23, 2011 when shares fell for seven-straight days, falling 12.6% (-$2.67) over that span. Shares are down $10.99 (-36.8%) year to date.

(Source: Xignite Financials)

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